Update 1 (03:27 GMT): I see that the price has moved past 1.3180 level. As always, now the same level will act as a major support. Likewise, it is quite disheartening to see the price not making much movement since the past few trading sessions. Here are some important levels to bear in mind for the rest of the day.

Update 1 (02:48 GMT): The price rebounded sharply from yesterday’s low. According to certain “insider sources”, this rebound was nothing but algo trading at its best. The 100-day MA 1.3309 is once again in focus; this price level can be touched if the existing bullishness prevails.

Update 1 (02:38 GMT): No surprises over the pair reacting to conventional news flow. Yesterday, based on certain comments from China, the price flew. Today, it is displaying much weakness with the price about to touch the 21 day bollinger (1.2941) at any moment. Stay cautious.

Update 1 (01:53 GMT): 1.3180 level has acted as the resistance once again and the price has been falling after touching that level since yesterday. Immediate support levels exist at the 55-day MA which is 1.3059 now.

Update 2 (14:34 GMT): As of now, the 55-day MA is supporting the price. We shall see 1.3223 (daily high Feb 14), if the MA is able to hold the price above the level.

Update 1 (02:04 GMT): As of now the pair is looking a bit weaker and is poised to fall and touch the daily low of Jan 25 (1.2931). For that to happen, the 1.3150 level must be breached in a convincing manner. An intermediate support level exists at the 55-day MA which is 1.3066.

Update 1 (01:45 GMT): I see that the price has opened up for trading with a gap up. 1.3156 (daily low Feb 10) should act as the immediate support level for the time being. Upside is capped once again at 1.3330 (the 100-day MA) for the pair.

Update 2 (09:27 GMT): European markets are holding up the price of this pair. Watch out for the 100-day MA which will be touched if there are ample levels of enthusiasm among the traders.